Macau casino operator Sands China Ltd on Friday said its board had approved a final dividend of HKD1.00 (US$0.129) per share for the year ended December 31, 2015.
The company had stated in a filing on March 11 that the dividend was likely to be paid on June 24. It would be available to shareholders whose names appear on the register of members of the company as of June 3, the company had said in that March filing to the Hong Kong Stock Exchange.
In January, Sands China’s board announced an interim dividend of HKD0.99 per share.
Net revenues for Sands China – on a U.S.-generally accepted accounting principles (GAAP) basis – decreased 28.3 percent year-on-year to US$6.86 billion in 2015. Net income for the period was down by 43.1 percent from the prior year to US$1.45 billion in 2015.
At Friday’s annual general meeting, Sands China also announced the reappointment of the firm’s president and chief operating officer, Wilfred Wong Ying Wai (second, left), as an executive director. Additionally, Robert Goldstein, president and chief operating officer of Sands China’s parent firm, Las Vegas Sands Corp, was re-elected as a non-executive director of Sands China.
“Sands China is pleased to announce the payment of a final dividend of HKD1 per share and to be able to reward our shareholders for their ongoing support and commitment,” said Mr Wong in a prepared statement.
He added: “Despite the challenges in the Macau market, we again delivered a strong set of financial results, while meaningfully contributing to Macau’s diversification and long-term development objectives as Asia’s leading business and leisure tourism destination.”
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”Given that the blanket casino closure [in Macau due to Typhoon Mangkhut] happened on an all-important weekend day… we expect that somewhere between MOP1.1 billion [US$136.2 million] and MOP1.5 billion in GGR will be lost”
Analyst at Union Gaming Securities Asia